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Going into business with others means taking some risks.
Sooner or later, one or more of the owners will want to exit the business (and
it may be you). Unless you plan in advance, protracted arguments over the
buyout price, payment plans, and outside buyers can threaten the survival of
your business. Without an agreement, co-owners may also jeopardize the business
by filing for bankruptcy, pledging their business share as collateral, or
losing their share of the business in a divorce.
And what happens when you are ready to move on? Can you force
the other owners to buy your interest? Who decides the price?
Business Buyout Agreements walks you
through the creation of a buy-sell agreement--a sort of "premarital
agreement" for your business--that protects everyone's interests. The
book includes a fill-in buy-sell agreement that can be tailored for owners of
corporations, LLCs, and partnerships.